PayPal adds feature to iPhone app

October 8, 2010 4:57:04 PM PDT
PayPal has added a new feature to its free iPhone application.

It lets users deposit checks into their PayPal accounts by taking a picture of them.

The feature was launched this week and in the first 36 hours more than $100,000 was deposited using the application.

Once the funds show up in a PayPal account balance, it can be spent or transferred to a bank account.